Watch your language: TSX and TSXV now use four letters

Earlier this week, TMX Group marked the first trading day for four-letter stock symbols on the TSX and TSX Venture (TSXV). The initiative provides interlisted issuers the opportunity to be uniformly represented throughout North American markets.

Previously, a stock’s symbol was limited to three letters or fewer.

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“We’ve seen tremendous interest from our equities markets clients in expanding to four-character symbols,” says Nick Thadaney, president and CEO of TMX Group’s global equity capital markets, in a release.

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As of November 1, 2016, six issuers on the TSX have adopted four-character symbols:

• Colliers International Group Inc. (CIGI),
• CounterPath Corporation (PATH),
• Enghouse Systems Limited (ENGH),
• Mercer International Inc. (MERC.U),
• ONEX Corporation (ONEX) and
• Shopify Inc. (SHOP).

One issuer, Trakopolis IoT Corp. (previously TKS), now trades on TSXV under its new symbol, TRAK.

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Shopify’s new symbol, SHOP, expands from its original two-letter symbol, SH. Commenting on the change, Shopify’s founder and CEO Tobi Lütke said, “We are excited to announce 100% growth in stock ticker digits.”

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.